Wesdome Gold Mines Ltd. (TSE:WDO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) have earned an average recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$25.42.

WDO has been the subject of several analyst reports. Stifel Canada raised shares of Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Royal Bank Of Canada raised their target price on Wesdome Gold Mines from C$25.00 to C$29.00 in a research note on Wednesday, December 10th. Stifel Nicolaus raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their price target for the company from C$20.50 to C$28.00 in a research report on Monday, October 20th. Canaccord Genuity Group increased their price objective on Wesdome Gold Mines from C$21.50 to C$22.50 in a report on Thursday, October 2nd. Finally, CIBC boosted their target price on Wesdome Gold Mines from C$24.00 to C$27.00 in a research note on Friday, October 10th.

Wesdome Gold Mines Price Performance

WDO opened at C$25.83 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37. The stock’s 50 day simple moving average is C$22.73 and its 200 day simple moving average is C$20.49. The firm has a market cap of C$3.90 billion, a price-to-earnings ratio of 13.52 and a beta of 0.48. Wesdome Gold Mines has a 1 year low of C$13.02 and a 1 year high of C$26.32.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.58 earnings per share for the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%.The firm had revenue of C$230.28 million during the quarter. As a group, analysts predict that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.